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For example, if you’re the only person who uses QuickBooks, you could create a Company Files folder inside your My Documents folder. See Where to Store Your Company Files for more about choosing a location for company files. The password in both the “Administrator password” and “Retype password” boxes.

• Screen asks whether you invoice customers based on the percentage you’ve completed on a job.
• When you’ve made the changes you want to your company settings, in the Preview Your Company Settings dialog box, click OK to return to the main QuickBooks Setup dialog box.
• After your file has been created, you’ll be able to dive into your QuickBooks File and begin doing your bookkeeping.
• This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business.

That way, most of the settings the program chooses will be what you want. If you have outstanding payroll withholdings such as employee payroll taxes, send in the payments so you don’t have to enter those open transactions in QuickBooks. QuickBooks opens the company file, and you’re ready to keep the books. Figure 1-6. Initially, QuickBooks selects the Skip option for all the names. That way, you can select the option in the Customer, Vendor, or Employee column for each name you want to import to designate whether it’s a customer, vendor, or employee. This screen provides a few examples of when to track or bypass inventory, and When You Don’t Need Items has more about how to decide whether tracking inventory makes sense for your business.

Customer Transactions

Our experts & certified professionals work with an aim to cater utmost satisfaction to our clients. It should be noted that the how to set up a new company in quickbooks users can not avail this feature due to critical payroll information in the payroll files. Now set the fiscal year for which you want to create a company file and then hit next. Selecting a detailed start is recommended if you wish to go for a complete setup, where you will have to enter all of the info from the start.The first step is to open your QuickBooks Desktop.

With the File Information section look at the location of company file on the PC. In QuickBooks Desktop, open the company file whose copy you need to create. Start typing your industry name in the Industry field, and QuickBooks will provide suggestions.

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You must choose an industry from the QuickBooks list or leave it blank. 2) In the Open A Company dialog, right click a company file, and choose Copy. Then right click again in an empty area and choose Paste. Lily Evans is a Certified Accountant with Expertise in QuickBooks, Sage and Quicken Accounting Software.

Or you can use a wizard that guides you through the process with a series of questions that takes about 30 minutes to answer. The program wants to know some company information, the industry you’re in, and the features you want to use. Of course, you have to do the bulk of the setup work later, which you learn in the section What’s Next? Creating a QuickBooks desktop company file might seem to be a complex task for users. QuickBooks desktop software allows or permits the users to save multiple company files for multiple businesses, as a separate company file is a must for every business. Express Start is a wizard that takes you through the creation of the initial Chart of Accounts and company details.

Beginning to Use QuickBooks

When finished, QuickBooks then opens the Dashboard page for your new company file. Keeping track of time will allow you to bill your customers for things such as drive time. You can easily add this time to an invoice upon completion of a job. You must choose a folder in which to save your file. The default location for QuickBooks is inside of an folder called Intuit, and the Intuit folder is usually located in the My Documents folder on a PC. Worried about losing time with an error prone software?

For instance, you might relocate your office or change your phone number, email, or website. But stuff like your company’s legal name and address, Federal Employer Identification Number, and business type usually stays the same. After you finish these additional steps, click Start Working to open the Quick Start Center window.

How Can I Still Do Payroll in Quickbooks Without Renewing?

For example, QuickBooks Pro, Premier, and Enterprise Editions had the same layout, design, and interface for 2008 to 2011, and then a new layout and design for 2012 to Present with the same interface. The difference between each edition may be the addition of a menu or two with linked options specific to an industry type or use. I will be using QuickBooks 2008 to Present for this tutorial and will be adding the changes QuickBooks make to these versions – subsequently. To convert files created in other accounting programs, like Peachtree or Small Business Accounting, you have to download a conversion tool from the QuickBooks website. Choose File→Utilities→Convert and then choose the program you want to convert from.

See Setting Up QuickBooks on a Network for more about choosing a location for company files. The EasyStep Interview used to be the simplest way to create a company file, but it’s been pushed aside by Express Start. The EasyStep Interview still guides you through the setup process, and it gives you more control over setting up your company file than Express Start does.